MTDC has stated that it is not attempting to sell any island under its management below market value, and that rumors circulating about attempts to sell an island are strictly contrary to the truth.

In a statement issued by MTDC, it was noted that no decision has been made to sell or release head lease rights, or any portion of any rights associated with head leases, for Hdh. Naagoshi, Ga. Maguhdhuvaa, or B. Kihavah Huravalhi.

MTDC also stated that no discussions regarding such a matter are taking place.

MTDC mentioned that going forward, matters that are required to be disclosed will continue to be disclosed in accordance with laws, regulations, and listing rules.

At the time MTDC issued this statement, some media outlets had reported that efforts were underway to sell the Ayada resort operated on the island of Maguhdhuvaa under the company.

MTDC sub-leased that island to Ahmet Aydeniz in 2007. The resort was subsequently opened under the name Ayada in 2011. It is a five-star resort.

In addition to Ayada Resort, another island sub-leased by MTDC is B. Kihavah Huravalhi. That resort was sub-leased to Minor International in 2007. Anantara Kihavah Villas opened at the location in 2010 and continues to operate.

In addition to these two islands, MTDC has been working on developing a resort on Naagooshi since 2007. Due to delays in developing the island, the agreement made with the initial sub-lessee was canceled, and it was sub-leased again in 2021 to a company named Global Resorts.